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What should business leaders expect from their auditors? LIVE in Oakville
Manage episode 429559818 series 3558478
Kandungan disediakan oleh BDO Canada. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh BDO Canada atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
Auditors can provide value beyond the numbers through practical solutions and advice on governance and regulatory changes. In a special live episode, guest host Mary Mathews is joined by Anthony Marinelli, Assurance-East Leader and Chair of BDO Canada’s Board, in a discussion on how the role and expectations of auditors have evolved and how business leaders should select auditors. They also discuss the impact of ESG and how technology and AI are transforming audit practices.
What you’ll hear in this episode:
[1:56] How audit has evolved over the years.
[5:35] What business leaders should look for when selecting an auditor.
[9:17] Building a strong auditor-client relationship.
[13:35] What business leaders should expect from their auditors with respect to ESG.
[16:08] People and talent in auditing.
[18:18] Ensuring technical excellence.
[21:00] What does an auditor do to adapt to the challenges and opportunities in today’s business environment?
[23:01] The role of innovation and technology in transforming auditing practices.
[25:15] Providing value beyond numbers.
Mentioned:
Quotes:
“…what is the company buying? It's the experience. It's an audit experience, and it's not only from the day the audit starts to the day the audit ends. It's also the post-audit experience from the day the audit ends to the day the next audit starts.”
“..our stakeholders are becoming more sophisticated. I just think about a lot of the users of our financial statements, whether it's the bankers, whether it's private equity firms, whether it's second generation now that are involved in the business that expect more out of a financial statement, so absolutely the landscape has changed.”
“The pace of change now may be quicker than it ever was, but it's slower than it will be in the future."
"Happy people lead to happy clients. It starts with the happy people, and then it's infectious."
"AI tools are great and help us become more efficient, but they'll never replace the human auditor."
“I think it starts with the numbers though. I think we have to make sure the numbers are right, and if the numbers are wrong, it really doesn't matter what happens after.”
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